well pump will not go over 40 psi. I changed out point and pipe?

Well, you have to say more than that.

1. Is the pump cutting off at 40, or is the pump continuing to run but will not build pressure any higher than 40?
2. How many pipes go into the well, one or two?
3. How old is the pump?
4. Why did you change out the pipe and point? Was it due to this problem?

When the pump cuts off at 40 PSI does the gauge fall back to zero? Back to you, Tom